Number Of Cardano Wallets Staking ADA Crosses 1 Million
07 December 2021 - 10:00AM
NEWSBTC
Cardano has now crossed the 1 million staking wallets milestone.
The project has been one of the most promising in the space and has
garnered a cult-like following since it debuted in 2017. The
altcoin held the number one spot for the network with the highest
amount of coins staked until recently when Solana took over that
title. Nevertheless, it has held its own in the market. Breaking A
New Record On Sunday, December 5th, crypto investor Jesse Blount
took to Twitter to congratulate Charles Hoskinson, the founder of
Cardano, on its latest milestone. In the tweet, Blount included a
picture that showed that the number of delegators on the Cardano
network had crossed one million. Congratulations, @IOHK_Charles! 1
million wallets staking. An incredible milestone! #Cardano #ada
pic.twitter.com/RaeCczN0BI — Jesse Blount (@BlountJesse) December
5, 2021 Related Reading | Cardano Ambassador Addresses FUD
Surrounding The Project Staking on the network had ramped up
following the release of smart contracts capabilities on the
blockchain. Developers had finally been able to release DApps on
the network and the projects which launched on the blockchain
enjoyed tremendous success due to the anticipation. What followed
was a rapid increase in the number of users that were staking their
ADA on the network. Number of staking wallets on Cardano surpasses
1 million | Source: Twitter The image posted by Blount showed that
there were a little over 1 million wallets staking on the network
across 3,108 staking pools. A total of 33,085,775,493 ADA were
staked on the network at the time of the post, representing 72% of
the total ADA circulating supply staked. It remains one of the
largest proof-of-stake blockchains. ADA drops to $1.28 | Source:
ADAUSD on TradingView.com First DEX Coming To Cardano The launch of
DEXs on the Cardano blockchain has been one of the major reasons
behind the increased activity on the network. As users move towards
other blockchains from the high fees of the Ethereum network,
Cardano has begun absorbing this user base. SundaeSwap is set to be
the first DEX to launch on the Cardano network. According to a post
on IOHK’s official Twitter, the DEX was set to launch on the
Cardano testnet. The developer anticipates high usage and
transaction, hence the reason for the partnership is to ensure it
runs smoothly. Related Reading | Cardano Records Over 20
Million Transactions Ahead of DEX Launches This launch signals the
official launch of DeFi on Cardano. The DEX will first go through
the testnet to see how it performs under high throughput. The
community was too to expect bugs in the DEX, but to also keep in
mind that it is still in the early stages. As DeFi makes its home
on Cardano, there will definitely be some kinks to straighten out
before it is working perfectly. #Cardano is parameterizable,
designed with flexibility in mind, built on a solid, highly
resilient core platform. We’ve plenty of headroom for L1 growth.
But we will take things slowly and carefully. And get things right.
This is and will remain central to our approach. 5/8 — Input Output
(@InputOutputHK) December 5, 2021 Featured image from CadaNews,
chart from TradingView.com
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